Question

Topic about Money, Banking & Finance Institution

The question just related to this topic

a) What did you already know? What concepts were new to you? What was interesting? What was difficult to understand?

b) Why is it important for you to be able to achieve the CLO? What are you better able to do now or know better, after you have gone through the topics for this CLO?

c) Which aspect do you think is something that you can best apply in your daily life OR in future when you go out to work? Explain how you can apply that concept.

Need help a,b.and c in paragraph

Answer 1

Money, Banking & Finance Institution

  (a)

· What did you already know?

a) Money banking and finance institutions are part of the financial systems of the county.

b) They are part of payments system .

c) Central bank and the national government are agencies for money , banking and finance system.

· What concepts were new to you?

a) Classification of types Money i.e M1, M2, M3 ,M4 .

b) Classification of banking and non banking institution.

c) Regulated and non regulated finance institutes.

d) Rules governing them.

· What was interesting?

a) Impact on micro and macro economics.

b) Influencing the decision making of different shareholders.

c) Research and development in financial markets.

d) Growth of financial literacy.   

· What was difficult to understand?

a) Statutes impowering them.

b) Compliance with different sectors and country.

c) Integrated international financial system.

d) Impact of different economics phenomenon.

(b)

Leaning never stops and literacy should not be confined to the definition of “ to be able to read and write “. Literacy Includes large number of variants . And to name few like Social literacy , Financial literacy and many more. Hence achieving CLO is essentially crucial in Money, Banking and Finance Institutions. Financial understanding leads to better adoption and implementation financial policies . After going through these topic, one gains knowledge of economic activities , Fiscal policy and regulation there on. One can enable her/his self with more reliant financial decisions in day to day activities.

(c)

Money we earn ,In Bank we save and through finance institute we grow.

Hence the understanding theses concepts adds value to daily life of ours.

And Especially Banking is core to every earning fellow . Better awareness of banking contributes to financial growth of individuals and as nation.

We encounter lesser dilemmas when comes to investment of our saved money. For Example

When we are aware and well read about the nature of crime in banking sectors , we pay close attention and cautions while performing Online Transaction or banking. And if anytime cheated or aggrieved we can conveniently report to appropriate authority. Hence knowledge is needed to nail the financial needs.